Cadwalader’s reinsurance practice group represented John Hancock Life Insurance Company (“Hancock”) in an arbitration with CNA Reinsurance Company Limited (“CNA Re”) involving four contracts covering occupational accident (i.e., workers compensation carveout) business written by Hancock’s former managing general underwriter, JEH Re Bermuda, Ltd. In 2000, CNA Re purported to rescind the Treaties. CNA stated in each of its quarterly and annual filings with the SEC since 2000 that it “ha[d] not established any reserve for any exposure derived from John Hancock because, as indicated, CNA believes the contract[s] will be rescinded.” The parties engaged in a six-week arbitration hearing during April and May 2007 and were scheduled to give closing arguments in September 2007. In early September, Hancock and CNA Re entered into a settlement agreement, pursuant to which CNA Re paid Hancock $250 million (which, as reflected in CNA’s second quarter 2007 10-Q filing, was 85% of the reported incurred losses under the reinsurance contracts) to settle all disputes relating to Treaties.